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Monday, January 18, 2016

I recently reviewed the audited financial statements for
the City of Stratford.

The present council is to be
congratulated for the excellent results over the last 4 years wherein the
annual surplus for years 2012 - 2014 was
.8 M. , 11.4 M and 3.3 M respectively with an accumulated surplus
at December 31, 2014 of 218.6 M. This
has also resulted in reductions of net debt, particularly long-term debenture
debt from 86.3M down to 71.1 M being basically 5 M repayment per year.

I am very concerned when I read about budget increases to
taxation of 4.1% with some councillors saying that they would be happy with an
increase of 3.5%. Such increases in
property taxes are unacceptable. Inflation
in the most recent month has only been at 1.4% annually.

Our present financial situation has arrived at the lofty
surpluses because we are at present paying down debenture debt from the past of
5M per annum, purchasing new capital assets of 10 M per annum and building up
total reserves for the future of 4 M over the last 4 years. The present taxpayers are funding 3
generations of costs.

This system is particularly hard on the large number of
seniors who are living on fixed incomes.
These people have worked hard all their lives, they have paid taxes all
their lives and they should expect to have security to enjoy their homes in
their advancing years. In spite of what we’re told at times, taxes are high in
Stratford. My annual bill of $7,600 compares
to friends with similar properties in Barrie of $6,300 and Toronto of $5,600.

I challenge council to bring in a budget at a 0 tax
increase. Mayor Mathieson (who is now in
a record 13th consecutive year as mayor) brought in a budget with an actual tax
reduction in his first year as mayor.

We will hear the argument from management that this is
not sustainable. This is a myth as
Stratford has seen a tremendous increase in new assessment which will add an
additional $700,000 + to the taxation revenue in 2016. This growth is in full swing and will sustain
future increases in expenditures. At the
same time we need less municipal government, not more.

Please hold the line on taxes in Stratford so all can
continue to enjoy the tremendous attributes of this great city.